Summertime, reading time

The beach, the mountains and other beautiful places invite us to spend a relaxing time. But this time it feels different, I somehow struggle to let the summer lull embrace me to the usual extent. So what about some reading to wind down? This season, I bring three book recommendations with me that may help to disconnect and offer some insights and guidance for the current state of affairs. Here is why.

Frank B?sch: “Zeitenwende 1979”

Let us start with “Zeitenwende 1979”, a book which has unfortunately only been published in German so far. All of us Eurocentric, Western people of my generation used to define European history with the cornerstones of 1945 and 1989. Perhaps, that’s part of the reason why we were so surprised the assumption of an end of history did not even hold true in Eastern Europe. Frank B?sch shows that the world of today is shaped and formed by a couple of events, which all happened in 1979 – or at least it was the year when the so-called global citizens became aware of them for the first time. To name a few: migration and refugees, the rise of religion as a political force, etc. I highly recommend reading this book to understand current trends we are facing.

Jeffrey E. Garten: “Three Days at Camp David”

This book includes a well-researched and well-told story about the end of the gold standard, respectively the thinking and the men behind the decision of the Nixon administration to take the US – and therefore the world – out of the gold standard. It’s astonishing to see the arguments and the line of thinking at that time and to compare it to some of the political voices of today. Reading “Three Days at Camp David” will remind you that almost nothing is unthinkable in a world of high debt, fiat money and fierce global competition.

Daron Acemoglu & James Robinson: “Why Nations Fail”

And the last one is “Why Nations Fail”. I apologize to recommend a book that has been around for quite some time and that most of you will have heard a lot about or have even read by now. I confess, it has been sitting on my book shelf for a while, but I let it untouched as I often had been reading and hearing about it. I used my spring holidays to start reading. The rich historical color to explain the advantages of inclusive political and economic institutions vs. extractive political and economic institutions was almost breathtaking. At least a stark reminder that inclusive societies do not fall from heaven but need to be built, nurtured and defended by their citizens. How timely this message is.

Have a wonderful summer break – nevertheless.